AIA Group Ltd Trims Holdings in Elevance Health, Inc. (NYSE:ELV)

AIA Group Ltd cut its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 75.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,260 shares of the company's stock after selling 3,944 shares during the quarter. AIA Group Ltd's holdings in Elevance Health were worth $465,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Public Sector Pension Investment Board grew its holdings in Elevance Health by 12.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 10,032 shares of the company's stock worth $5,217,000 after acquiring an additional 1,100 shares during the period. Edgestream Partners L.P. acquired a new stake in Elevance Health during the third quarter worth approximately $532,000. Erste Asset Management GmbH acquired a new stake in Elevance Health during the third quarter worth approximately $978,000. Kestra Investment Management LLC acquired a new position in Elevance Health in the third quarter valued at approximately $710,000. Finally, Paloma Partners Management Co boosted its holdings in shares of Elevance Health by 223.4% during the 3rd quarter. Paloma Partners Management Co now owns 2,264 shares of the company's stock worth $1,177,000 after buying an additional 1,564 shares in the last quarter. Institutional investors own 89.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ELV shares. StockNews.com upgraded Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Argus raised shares of Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 price target for the company in a research report on Monday, March 17th. Cantor Fitzgerald restated an "overweight" rating and set a $485.00 price objective on shares of Elevance Health in a report on Friday, January 24th. Stephens downgraded shares of Elevance Health from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Finally, Barclays upped their target price on shares of Elevance Health from $501.00 to $512.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Elevance Health presently has an average rating of "Moderate Buy" and a consensus target price of $519.81.

Insider Buying and Selling

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of the business's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $415.13, for a total value of $183,902.59. Following the sale, the chief accounting officer now directly owns 1,847 shares in the company, valued at $766,745.11. The trade was a 19.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total value of $1,388,635.20. Following the transaction, the executive vice president now owns 10,116 shares of the company's stock, valued at $4,008,970.80. The trade was a 25.73 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by insiders.

Elevance Health Stock Performance

ELV stock traded down $24.07 during midday trading on Friday, hitting $428.62. The company's stock had a trading volume of 4,515,502 shares, compared to its average volume of 1,418,552. The stock has a market cap of $97.03 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 1.18 and a beta of 0.77. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The stock's 50-day moving average price is $408.70 and its 200 day moving average price is $417.38. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping analysts' consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. On average, equities analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th were paid a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.60%. This is a positive change from Elevance Health's previous quarterly dividend of $1.63. Elevance Health's dividend payout ratio (DPR) is presently 26.71%.

About Elevance Health

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.